ITM 309 Lecture Notes - Lecture 8: Executive Information System, Tiffany & Co., Competitive Advantage

• School: MSU
• Department: Information Technology Mgmt
• Course: ITM 309
• Professor: Frederick A.Rodammer

Document Summary

All devices are connected (ex: phone, tablet, computer) Issues with iot more things connected = more exposed, analytics, data flow- Competitive intelligence: obtain info about competitive environment to improve ability to succeed. Power of supplier drive up material price (wal-mart to p & g) Power of customer drive down price (auto industry) Threat of new entrants new competitors (barriers to entry) Threat of substitute product/service customer purchase alternatives (cell phones) Rivalry among existing competitors power of competitors (cost, quality, service) Broad market + low cost- ex: wal-mart has broad range of products for cheap (cost leadeship) Broad market + high cost- ex: neiman marcus has broad range of products but expensive (differentiation) Narrow market + low cost- ex: payless has shoes for cheap (focused strategy) Narrow market + high cost- ex: tiffany & co. has diamonds but expensive (focused strategy) Value chain analysis: views firm as series of processes which add value.